February 23, 2009
...Stan Ross, chairman of the University of Southern California Lusk Center for Real Estate, was unimpressed by the lack of detail in the initial announcement of the Financial Stability Plan.
"If I had turned in a report with so much detail missing, I would've been thrown out of the office," Ross said. "The market was really expecting some more detail." He said there was too little information on how the public-private investment fund will work.
"If you go back to the old RTC [Resolution Trust Corp.] days, it was a totally different model," Ross said. "The asset was sold or the entity was sold. The market bid on it and it was auctioned and the highest price was deemed to be the market price."...